Global crude oil prices returned to the USD 100 per barrel mark on\nFriday, 13 March 2026. Brent crude oil futures contracts reached USD 101\nper barrel as of 14:00 on 13 March, whilst West Texas Intermediate (WTI)\ncrude oil stood at USD 97 per barrel, according to Trading Economics\ndata.<\/p>\n
Brent crude had touched its highest level of USD 117 per barrel on 9\nMarch, with Friday\u2019s price exceeding Thursday\u2019s close of USD 100 per\nbarrel.<\/p>\n
Finance Minister Purbaya Yudhi Sadewa previously explained that\naccording to calculations by the Ministry of Finance, if oil prices\nbreach USD 92 per barrel, the state budget would face a deficit of\napproximately 3.6-3.7 per cent of gross domestic product (GDP).<\/p>\n
He noted that Indonesia has previously experienced global oil prices\nsurging to USD 150-200 per barrel, which did not immediately cause\neconomic collapse but rather slowdown. The government will monitor the\nimpact of rising global oil prices over the coming month.<\/p>\n
To mitigate potential budget deficits, Purbaya indicated the\ngovernment would review the efficiency of the free nutritious meal\nprogramme budget. However, he clarified that this did not mean cutting\nthe programme. \u201cThe nutritious meal programme will not be cut, except\nfor unproductive elements,\u201d he stated.<\/p>\n
The Finance Minister explained that budgets deemed unnecessary would\nbe re-examined, such as procurement of new motorcycles and computers. He\nemphasised that items under evaluation would be limited to goods\nunrelated to food provisions, ensuring the nutritious meal scheme\nremained truly cost-effective and efficient.<\/p>\n
After one month, the government will reassess oil prices and their\nimpact to formulate appropriate policy responses. \u201cSo we can make the\nright policy decisions. You trust me, I\u2019m quite smart,\u201d he said.<\/p>\n
When global oil prices surged to their highest level on Monday, 9\nMarch 2026, the Composite Stock Price Index (IHSG) experienced\nsignificant losses. This decline coincided with the rupiah\u2019s\ndepreciation to approximately Rp 17,000 per US dollar.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/brent-crude-oil-price-returns-to-usd-100-per-barrel-1773391971", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }